Stay Focused on the Customer and Their Individual Needs
The emergence of new channels has changed the way customers interact and shop. To engage smart-device toting, always-on consumers, retailers need to better understand their preferences, anticipate demand changes faster, and personalize communications and promotions – all to stay ahead of the competition. In this fight for customer attention, data is both the biggest ally and the biggest challenge for retailers.
Alteryx enables retail analysts to derive deeper insights about customers, transactions and operations, across all channels, without any coding or IT intervention.
Using Self-Service Data Analytics From Alteryx, You Can:
- Deepen customer insight by preparing, blending and analyzing all customer data, demographic, social media, transactional and more, across all channels
- Improve multi-channel performance by aligning product mix, promotions, messaging and media choices based on customer spending levels, purchase history and browsing behavior
- Hyper-localize assortment plans by enriching transaction history with trade area demographics, local population trends, ethnicity mix and more
- Optimize site selection and store-network decisions by determining market potential based on sales forecast, trade area demographics, competitive activity and more
Marketing Analytics in Retail
Web, mobile, and social media have shifted the power balance from retailers to customers. To keep up with changing customer demands and ensure loyalty, retailers need marketing analytics for deeper customer insight, targeted interactions and improved customer service. Marketing analytics from Alteryx empower retailers to quickly combine all relevant customer data — from POS systems, CRM databases, loyalty cards etc. with social media, weblog and channel data — perform sophisticated analytics, and share insights to help optimize marketing decisions.
With Marketing Analytics From Alteryx, You Can:
- Deepen customer insight: Blend all of your data, structured and unstructured, from internal and external sources — across all channels — to get one view of your customer
- Optimize multi-channel performance: Analyze customers' browsing history, spend patterns, and shopping behavior across channels to align product mix, promotions, messaging and media choices with customer preferences
- Improve marketing effectiveness: Profile and segment customers, model scenarios, forecast promotional lift, track actuals against target and optimize channel and media mix to improve campaign response rates and promotional performance
- Enhance social media presence: Blend and analyze social data and product/service review data to understand and respond to customer sentiments and brand perceptions
Merchandising Analytics in Retail
With new channels available to customers for information and commerce, it is no longer enough to just market to customers with the right messages. Retailers need merchandising analytics to ensure that they have the right product available at the right place at the right time. Merchandising analytics from Alteryx empower retail buyers and planners to blend all the relevant data and use advanced analytics so that they can align their merchandising decisions with customer expectations.
Use Merchandising Analytics From Alteryx For:
- Accurate Demand Forecasting: Combine all customer demand data – store level POS data, mobile and e-commerce, with competitive activity, trade area information, economic factors, and seasonality to predict customer demand
- Hyper-local Assortment Planning: Enrich transaction history with demographic data, population trends, ethnicity mix and more to optimize assortment mix by trade area, or store location
- Improving Space Allocation: Model impact of changes in product category mix and product placement decisions on revenue to optimize inter-departmental mix and in-store space allocation
- Promotional Planning: Model demand lift from different promotions, analyze the cannibalization impact of concurrent promotions and model revenue impact of a promotion to optimize promotional plans
Supply Chain Analytics in Retail
Retail profitability depends on how well you manage the 3Rs of the supply chain-- the right product in the right quantity; in the right place/channel; at the right time. One miss and you may not only lose the sale, you may lose the customer forever. Supply chain analytics from Alteryx help you derive insights from your customer, inventory (on hand and in-transit), shipment, transactional, and location data so you can maximize demand fulfillment, minimize inventory and mitigate supplier risk.
Alteryx puts the power of supply chain analytics directly in the hands of your retail analysts, forecasters and inventory planners so they can:
- Accurately Forecast Demand: Access and combine all relevant data — sales, marketing, seasonality, economic and more — to generate reliable demand forecasts
- Manage Inventory: Access and combine all your inventory data — in stores, DCs and shipments, and segment inventory by turns, seasonality and cost etc. for complete inventory visibility and optimal threshold levels and replenishment plans
- Optimize Distribution Network: Forecast trade area demand, geocode store and customer locations, calculate distance, drive times, and perform what if analysis to understand impact of store closings/openings on transportation & facility costs, SLAs and lead times
- Improve Supplier Performance: Rank and segment suppliers based on price, on-time delivery, quality and performance to consolidate spend and rationalize supplier base
Retail Operation Analytics
The performance of retail operations depends on a multitude of factors, including where you locate your stores, how well you manage labor, and how closely you monitor and manage store performance. So it is no surprise that savvy retailers rely on retail operation analytics to improve site selection, synchronize labor availability with demand, and optimize performance.
Empower your store operations analysts, financial analysts, and GIS/real estate managers with retail operation analytics from Alteryx to help:
- Improve Site Selection: Forecast sales by location, analyze impact of existing stores — both sister and competitive — on new store sales, determine market potential by drive time, trade area demographics, and population trends to identify most profitable locations and optimize trade area expansion
- Optimize Labor Scheduling: Accurately forecast in-store labor demand based on planned promotions, seasonality, local events and competitive activity, measure and track impact of labor changes on performance, inventory turns and sales volume to adjust and optimize labor schedules and costs
- Manage Store Performance: Track and monitor standard performance metrics, determine impact of promotions, refurbishments, competitive activities etc. on store performance, compare results with other sister and competitive stores in local area, and share results via easily consumable graphics